Vicinity Motor Corp. Provides Update on Filing of Quarterly Financial Statements

Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC), a North American supplier of commercial electric vehicles, has announced an update regarding its delayed interim financial statements for the six months ended June 30, 2024. The company previously sought a management cease trade order (MCTO) due to late filings.

The British Columbia Securities Commission granted the MCTO on August 15, 2024, under National Policy 12-203. This order restricts trading by the company's CEO and CFO until the required filings are completed. However, shareholders retain their ability to trade.

The company is working to finalize the filings by September 13, 2024. It has also imposed an insider trading blackout and will issue bi-weekly updates until the filings are made.

There have been no material changes or insolvency proceedings since their last update. Vicinity remains committed to resolving financial restructuring plans with its lenders.